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- Tasks: Lead a team managing risk in oil trading and provide insights for traders and management.
- Company: Global oil trading company based in Central London with a dynamic environment.
- Benefits: Competitive salary, international exposure, and opportunities for professional growth.
- Other info: Join a highly international team with a focus on digitalisation and process optimisation.
- Why this job: Make a real impact in the oil industry while developing your leadership and analytical skills.
- Qualifications: Degree level education, risk management experience, and strong analytical capabilities required.
The predicted salary is between 80000 - 100000 £ per year.
Our client is a global Oil trading company, based in Central London. Their core focus is the supply, marketing and trading of physical and derivative crude oil and refined petroleum products. We are looking for an experienced Risk Manager to lead and manage a small team who manage the risk for the supply and trading business, provide information to traders for what position to hedge, and provide information to management on PnL, VaR, market price risk position and credit risk.
KEY RESPONSIBILITIES:
- Leadership: Lead and manage the Risk Control department. Advisory function for Risk Control relevant topics to the Executive Board. Define and communicate the goals of the Risk Control department.
- Risk management: Daily monitoring and reporting to management on limit utilisation and risk exposure, in particular regarding market price and counterparty risk in a quantitative manner (e.g. VaR and PFE). Scenario analysis, stress tests and back testing of pricing, market and evaluation models. Assessment of long-term risks, especially in the context of yearly strategy development, new projects and M&As. Position analysis and reporting for management defined metrics. Responsibility for the accurate risk measurement of trading positions in the Energy Trading and Risk Management system (ETRM).
- Compliance: Maintenance of the risk rulebook, the risk procedure handbook, the annual plan and the trading mandates, as well as monitoring adherence to the guidelines defined therein. Escalation of any limit breaches or violations of risk regulations and directives. Approval of procedures regarding position modelling, valuation, and P&L calculation as well as of new products and instruments, enabling best-practice industry standards for all risk-related activities. Enforcement of data compliance (especially for external market price data) and review of market conformity of prices, volatilities and correlations.
- Problem Solving: Steers complex functional tasks and broadly defined problems in trading areas with many touchpoints and interdependencies to traders, operators and finance. Defines procedures, guidelines and policies (Annual Plan, Rulebook) and provides input for long-term strategy. Provides clear, useable advice to the business. Leads internal discussions and questions status-quo. Lead role for all risk control tasks and implementation of new trading strategies.
- Accountability: A highly international role that manages processes or people for all risk control related tasks of oil trading located in Europe and Singapore, with dedicated resource responsibility for risk control team. Decides within area of responsibility in a complex and dynamic environment.
- Management roles: Leadership responsibility for Oil Risk Control department with budget responsibility.
- ETRM/Digitalization: Involvement in the requirements for and the design and implementation of the ETRM including interfaces to neighbouring systems and support of the implementation of an integrated IT landscape. Responsibility for testing risk functionality in case of IT system upgrades and new releases. Responsible for the ETRM Super User function. Leading digitalization and optimization of processes for the risk control team.
REQUIREMENTS:
- Educated to degree level (or equivalent).
- Quantitative risk metrics understanding and risk modelling experience.
- Understanding of imperative programming languages.
- Previous professional experience as Risk Manager/Controller within a commodity bank, energy business, energy trading house.
- Oil industry experience, for physical oil, refined products and derivatives.
- Excellent knowledge of Trading instruments (Physical, Swaps, Futures, Options).
- Very good understanding of trading concepts and exposure and the key controls required to support a trading business.
- Very good theoretical and practical knowledge and application of quantitative risk metrics and risk modelling.
- Very good knowledge of operational side of Trading in order to understand different positions.
- Very good knowledge and experience with ETRM systems and excellent MS Excel knowledge.
- Elementary understanding of imperative programming languages, for instance VBA for Excel or Python.
- Affinity with numbers with strong analytical capabilities and attention to detail.
- Business level of English language (verbal and written) essential with excellent communication skills with the ability to communicate complex issues simply.
- Self-starter with the ability to work independently under stress and to meet deadlines also an effective team player.
Oil Risk Manager in City of London employer: Richard James Recruitment Specialists Ltd
Contact Detail:
Richard James Recruitment Specialists Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Oil Risk Manager in City of London
✨Tip Number 1
Network like a pro! Reach out to industry contacts on LinkedIn or attend relevant events. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of risk management and trading concepts. Be ready to discuss how you've tackled complex problems in the past, as this will show you're the right fit for the role.
✨Tip Number 3
Don’t just apply anywhere; focus on companies that align with your values and career goals. Use our website to find roles that excite you and match your skills, especially in the oil trading sector.
✨Tip Number 4
Follow up after interviews! A quick thank-you email can go a long way in keeping you top of mind. Mention something specific from the interview to remind them why you’re the perfect candidate.
We think you need these skills to ace Oil Risk Manager in City of London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Oil Risk Manager role. Highlight your experience in risk management, especially in the oil industry, and showcase your quantitative skills. We want to see how your background aligns with our needs!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're the perfect fit for this role. Mention specific experiences that relate to the responsibilities listed in the job description. Let us know what makes you tick!
Showcase Your Analytical Skills: Since this role requires strong analytical capabilities, be sure to include examples of how you've used these skills in past positions. Whether it's through scenario analysis or risk modelling, we want to see your thought process in action!
Apply Through Our Website: Don't forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it gives you a chance to explore more about our company and culture!
How to prepare for a job interview at Richard James Recruitment Specialists Ltd
✨Know Your Numbers
As an Oil Risk Manager, you'll need to demonstrate a solid understanding of quantitative risk metrics. Brush up on your knowledge of VaR, PnL, and market price risks. Be ready to discuss how you've applied these concepts in previous roles.
✨Showcase Your Leadership Skills
Since this role involves leading a team, be prepared to share examples of your leadership experience. Talk about how you've managed teams, set goals, and communicated effectively with upper management. Highlight any successful projects where you steered your team towards achieving objectives.
✨Familiarise Yourself with ETRM Systems
Understanding ETRM systems is crucial for this position. Make sure you can discuss your experience with these systems and how you've contributed to their implementation or optimisation. If you have any specific examples of how you've tested risk functionality, bring those up!
✨Prepare for Problem-Solving Scenarios
Expect to face complex problem-solving questions during the interview. Think of situations where you've had to adapt or develop new solutions in trading environments. Be ready to explain your thought process and how you arrived at your conclusions.